Los Cabos Residential Market Report

It’s turned into a hot, hot real estate market
BY: MARTIN POSH

Here are the numbers for the residential market (only condos and single family homes) from January 1 until December 31, 2016.

The total numbers of sales for all residential properties in all price ranges are up by 17% to 370 transactions.

The total sales volume is up by 56% to $239,829,000 US dollars.

Total numbers of properties under contract are up by 29% to 418 contracts. The average sales price is up 33% to $648,000 US Dollars.

Now let's see how the numbers look for the condo and single family home market:

For 2016 the total number of closed transactions for condos is up by 29% to 199 units. The total sales volume is up by 48% to $73,369,000 US dollars. The average sales price is up 14% to $369,000 US dollars.

Closed transactions for single family homes are up by 4% to 171 units. The total sales volume is up by 59% to $166,462,000 US dollars. The average sales price is also up by 51% to $973,000 US dollars. These numbers reflect a steep increase.

Total numbers of closed sales for properties above $1,000,000 US dollars is up 69% to 59 closed escrows. The total sales volume is up by 111% to $144,725,000 US dollars. The average sales price is up by 25% to $2,453,000 US Dollars.

The market for properties below one million US dollars looks different. The total numbers under contract went up by 21% to 345 accepted offers. Total units sold is up 10% to 311 units and the total sales volume is up 11% to $95,105,000 US dollars.

If you would like to receive an update on a specific neighborhood, please let me know and I'm more then glad to provide you with the numbers.

Martin A. Posch, Broker, Windermere Los Cabos, martinposch@windermere.com, www.martinposch.withwre.com, Cell: +521 (624) 147-5857